56367 Property Tax Rate

Property owners in ZIP code 56367 (Rice, Minnesota) pay a median of $2,663/year in property taxes on homes valued at $270,100. This translates to an effective tax rate of 0.99%, which is 3% above the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 56367 is approximately $222, which factors into escrow payments on mortgages. This ZIP code is located within Benton County. This is $357 more than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 56367 has lower property taxes. ZIP codes with similar effective rates include 56131 (0.99%) and 55123 (0.99%).

In Rice, property taxes represent approximately 2.6% of the median household income of $102,429, providing context for the relative tax burden on homeowners in this area.

Minnesota primary residences qualify for homestead property tax treatment, which applies a lower tax rate class than investment or rental properties. Contact the Benton County Assessor to confirm homestead classification is active on your property within 60 days of closing. File a property tax appeal with the Benton County Assessor if your assessed value exceeds recent market comparables — the county's effective rate of 0.98% means assessment accuracy directly impacts your annual bill.